Binance Invests $200 Million in Forbes to Gain Media Traction

Binance, the world’s largest cryptocurrency exchange, has made a $200 million strategic investment in news publisher Forbes. The move comes at a time when financial institutions are beginning to embrace cryptocurrencies, but still, there is a wide gap.

According to Bloomberg, more than one in ten American adults have never heard of cryptocurrencies such as bitcoin, Ethereum, etc. Those who have heard of them are sometimes wary of them, either because they claim to have no understanding of them or because they believe they are extremely risky and volatile assets.

Binance Invests $200 Million in Forbes to Gain Media Traction

Binance Founder and CEO Changpeng ‘CZ’ Zhao described it in a tweet as “investing in both new and old, and bridging them with crypto.” Experts believe that now is the time for cryptocurrency to gain mainstream acceptance.

In this regard, the Founder of Parallel Finance ( a new decentralized lending platform), Yubo Ruan said,

Binance’s stake in Forbes is another glowing example of the rapid growth of crypto that we have been experiencing recently. Witnessing one of the oldest brands in blockchain become one of the biggest owners of a brand like Forbes is an incredible moment for our industry to gain even more attention in mainstream media. This is another exciting step on the journey to adoption for blockchain, who knows what will happen next.

According to Binance, media is a critical component in promoting wider consumer understanding and education about Web 3 and blockchain technology. “We look forward to bolstering Forbes’ Digital initiatives, as they evolve into a next level investment insights platform,” said Binance Founder and Chief Executive, Changpeng ‘CZ’ Zhao, in a statement.

Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets.

Check out? Binance Do Not Follow Through on Its Anti-Money Laundering Commitments

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